NBU expands criteria for selecting banks to participate in currency interventions

12:29, 06.01.2017 1 min read

The National Bank of Ukraine (NBU) has expanded criteria for selecting banks to participate in currency interventions asking for the best exchange rate, the central bank has said on its website.

The NBU decision is outlined in resolution No.1 dated January 5, 2017 amending the provisions and conditions of trade with foreign currency.

Now, instead of largest banks-participants of the interbank currency market in terms of turnover, 20 banks, which would have the highest rating among interbank currency market players over the past quarter, will be able to take part in currency interventions.

The rating will be calculated using three criteria: the volume of banks' currency sale and purchase transactions with other market players and the NBU (the criterion's share of the final rating is 50%); the volume of banks' cashless currency sale and purchase transactions with clients (30%) and the volume of banks' assets (20%).

The new rules took effect on January 6, 2017.